Report: LyondellBasell, Odebrecht to seal Braskem deal by mid-October

|About: Braskem S.A. (BAK)|By:, SA News Editor

Odebrecht is set to agree on the sale of its controlling stake in petrochemical company Braskem (BAK +3.8%) to LyondellBasell Industries (LYB +0.3%) by the middle of October, Brazilian newspaper Valor Econômico reports.

Petrobras (PBR -0.1%) will decide by theb whether to include its own stake in BAK in the deal, clearing the way for the transaction to be submitted to regulators, according to the report.

Odebrecht currently owns 50.1% of BAK's voting capital, while PBR holds 47%.

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